We often get asked, “What is accident insurance?” Accident insurance is a type of supplemental policy that can help cover various expenses following an injury. These can include ambulance rides, emergency treatment, hospitalization, surgery, and even out-of-pocket expenses if you can’t work. Let’s take a closer look at how accident insurance works, some of its benefits, and why these policies matter.

How Does Accident Insurance Work?

Accident insurance works by filling in the gaps left by your health insurance coverage. For instance, if you’re in a car collision and need to be hospitalized, then your health insurance policy may only cover a portion of the costs. This is where accident insurance comes into the picture.

If you get hurt and need medical attention, then your first step is to file a claim with your insurance provider. You’ll need to provide documentation of the accident such as medical records or an official police report. If your insurer approves your claim, then they’ll pay benefits either directly to you or to your healthcare provider.

One thing to keep in mind is that some accident insurance policies come with a small deductible. This is the amount of money you must pay before your policy coverage applies. For example, if your deductible is $250 and you have $5,000 in medical bills from a covered accident, then you’ll only receive $4,750 after paying the deductible.

It’s also important to note that accident insurance isn’t the same as health insurance. While health insurance often covers some preventive care, doctor visits, and routine treatments, accident insurance may only cover expenses related to accidental injuries. That said, some policies do provide benefits for routine healthcare procedures. Regardless, having both health insurance and accident insurance will give you peace of mind no matter what happens to you.

What Are the Benefits of Accident Insurance?

Accident insurance is an affordable way to get added coverage for unexpected injuries. If you don’t have accident insurance during an incident, then you may have to pay all your medical bills yourself. This can be challenging if you’re unable to work due to your injuries.

These policies are especially beneficial for anyone with an active lifestyle. While accident insurance rarely covers hazardous hobbies like racing or skydiving, it generally covers most accidental cuts, burns, breaks, and concussions. Those with small children, a limited budget, or no life insurance may also find these policies to be appealing for the following reasons.

  • Zero copays
  • Peace of mind in the case of an accident
  • Affordable coverage with little to no deductible
  • Direct financial support for living expenses and costly medical bills
  • Various optional features including group plans and family or dependent coverage 

Why You Should Consider It

There are several reasons why you should consider accident insurance, even if you already have health insurance. First, most health insurance policies don’t completely cover all accidents. So, if you accidentally injure yourself, you could be responsible for thousands of dollars in medical bills.

Another reason to get accident insurance is that it can work with your health insurance policy. For example, if you have a high deductible health plan (HDHP), then accident insurance may cover your expenses until you meet your health insurance deductible.

Lastly, accidents can occur at any time, even when you’re careful and completely healthy. In fact, the CDC records millions of injury-related emergency room visits every year. No one knows when an accident will happen to them, but we all know they can be expensive. With accident insurance, you can rest assured knowing that you and your family are protected when you need it most.

Ask Us about Accident Insurance

It’s important to prepare for the unexpected these days. If you live an active lifestyle, have small children, or are simply looking for added security during an emergency, then ask us about the benefits of an accident insurance policy. Our friendly agents are always eager to answer your questions and give you the personalized support you deserve. Simply give us a call, send an email, or reach out online to find a local agent near you.